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102 Cards in this Set
- Front
- Back
National Budget |
is the government's estimate of the sources and uses of government funds within a fiscal year |
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Budget cycle |
The formulation and utlilization of the national budget are summarized in the? |
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Preparation Legislation Execution Accountability |
What are the four phases of budget cycle? |
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Botom up approach |
The budget preparation in the Philippines uses what approach? |
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Bottom up approach |
Under this approach, several parties participate in the budget preparation, starting from the lowest to the highest levels of the government. |
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Top down approach |
The budget preparation starts from the agency levels. |
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Incremental budgeting |
This budgeting is formulated on the previous year's budget which is adjusted for any variances experienced in the past. |
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Incremental budgeting |
Budgeting that uses roll over approach |
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Incremental budgeting |
This budgeting is prone to abuse |
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Zero-based budgeting |
This budgeting is formulated without regard to the previous year's budget. |
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Zero-based budgeting |
Uses a back-to-zero or clean slate approach |
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Zero-based budgeting |
This budgeting promotes effiecient and effective utilization of funds |
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Budget call |
The budget preparation starts when the DBM issues what to all government agencies? |
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Budget call |
contains, among other things, the next fiscal year's targets, the agency's budget ceiling, and other guidelines in the completion and submission of agency budget proposals |
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Balanced budget |
Budget that is prepared in such way that estimated revenues exceed estimated expenditures |
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Surplus |
If the actual revenues exceed actual expenditures, the government earns a? |
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Deficit |
If the expenditures exceed revenues, the government incurs a? |
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Annual budget |
Budget that covers a period of one year and forms the basis for the annual appropriation |
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Special budget |
Budget that provides for items not adequately covered or not included in the GAA |
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Line item budget |
Budget that focuses on the specific expenditures such as salaries and wages, travel expenses, freight, supplies, materials, and equipment. |
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Performance budget |
Budget that is a plan of activities to be undertaken, including their related costs, with the emphasis on meeting targets and desired results. |
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Obligations budget |
Budget that focuses on expenditures incurred in the current year which are to be paid either in the same year or in the following year. |
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2. Budget Hearing |
are conducted after the agencies submit their budget proposals. |
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National Expenditure Program Budget of Expenditures and Sources of Financing |
The DBM deliberates on the budget proposals, makes recommendations, and consolidates the deliberated proposals into the? |
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Presentation to the Office of the President |
After budget hearing, what is the next step in budget preparation? |
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Congress |
After the President approves the proposed budget, the DBM finalizes the budget documents to be submitted to the? |
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President's budget |
The budget is called what after being approved by the President? |
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President's Budget Message National Budget Expenditure Budget of Expenditures and Sources of Financing Other documents |
The President's budget contains what documents? |
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President's Budget Message |
this contains the president's explanation of the country's fiscal policy and budget priorities. |
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National Expenditure Program |
this contains the details of all the governement's entities' proposed expenditures in the coming year |
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Budget of Expenditures and Sources of Financing |
this contains the extimated expenditures accompanied by estimated of expected sources of financing |
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Other documents |
Under the president's budget that aimed to provide further explantion of selected items in the NEP |
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30 days |
The President shall submit the proposed budget to the Congress within how many days? |
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House of the Representatives |
The one that prepared the General Appropriations Bill |
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Bicameral Conference Committee |
is formed to harmonize any conflicts between the representatives and senate versions of the GAB |
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House Deliberations Senate Deliberations Bicameral Deliberations President's Enactment |
Processes under the Budget Legislation |
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Approved Budget |
is the expenditure authority derived from appropriation law, government ordinances, and other decisions related to the anticipated revenue |
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Unified Accounts Code Structure |
refers to the standard coding system used in financial reporting of the national government |
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Appropriation |
is the authorization made bty a legislative body to allocate funds by the legislative or similar authority. |
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New General Appropriations |
are annual appropriations for incurring obligationsnduring a specified budget year. |
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Continuing Appropriations |
are the authorizations to support obligations for a specific purpose or project, such as multi-year construcyion projects which require the incurrence of obligations even beyond the budget year |
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Supplemental appropriations |
are additional appropriations authorized by law to augment the original appropriations which proved proved to be insufficient for their intended purpose |
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Certification of Availability of Funds from the Btr |
Supplemental appropriations should be supported by? |
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Automatic Appropriations |
are the authorizations programmed annually or for some other period prescribed by law which do not require periodic action by Congress |
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Unprogrammed Funds |
are standy appropriations authorized by Congress in the annual GAA |
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Retained Income/Funds |
collections which are authorized by law to be used directly by agencies concerned for their operation or specific purposes |
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Revolving funds |
receipts derived from business-type activities of department/agencies which are authorized bby law to be constituted as such and deposited in an authorized government depository bank |
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Trust receipts |
receipts by any government agency acting as trustee, agent or administrator for the fulfilment of some obligations or conditions |
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President President of the Senate Speaker of the House Representative Chief Justice of the Supreme Court Heads of Constitutional Commissions |
No law shall be be passed authorizing any transfer of appropriations but these persons have the power to authoized transfer |
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Budget Execution Documents |
summarizes an agency's fiscal year plans and performance targets |
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Physical and financialm plan Monthly cash program Estimate of monthly income List of obligations that are not yet due and demandable |
Budget Execution Documents includes? |
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National Government Agencies |
Major recipients of the budget that include all agencies within the executive, legislative, and juducual branches of the government |
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Local Government Unit |
Major recipient of the budget that include autonomous regions, provinces and cities independent from a province, component cites and municipalities, and barangays |
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Government Owned and Controlled Corporations |
Major recipient of the budget that include corporations that are owned or controlled, directly or indirectly, by the government and vested with functions relating to public needs |
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Priority Development Assistance Fund or Pork Barrel |
The porion received by members of the Congress is referred to as the? |
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Judiciary Development Fund |
The portion received by members of the Judiciary is referred to as the? |
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80 % |
How many percentage of Judiciary Development fund is allocated for the cost of living allowances of the members and personnel of the Judiciary |
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20% |
How many percentage of Judiciary Development Fund are allocated for the acquisition and maintenanec of office equipment and facilities |
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Disbursemnet Acceleration Program |
This was introduced in 2014 by the Aquino administration which aims to speed-up public spending |
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Savings |
are available portion or balances of items under GAA which results from the completions ot final discontinuance or abandonment of a program, unpaid compensation for vacant or unfilled positions and leaves of absence without pay, or the implementation of efficiency measures that enable agencies to deliver services at lower cost |
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Allotmment Release Program |
This is formulated by DBM to set the limit for allotment releases during the upcoming |
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Cash Release Program |
This is formulated by DBM which sets the disbursement limits for the year, for each quarter, and for each month |
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Allotment |
is an authorization issued by the DBM to government agencies to incur obligations for specified amounts contained in a legislative appropriation in the form of budget release documents |
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Allotment |
It is referred to as Obligational Authority |
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Allotment |
It is illegal for the government entity to incur obligations without having first received the? |
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Obligation |
is an act of a duly authorized official which binds the government to the immediate or eventual payment of a sum money |
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Obliagtion |
referred to as a commitment that encompasses possible future liabilities based on current contractual agreement |
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General Appropriations Act Release Document |
serves as the obligational authority for the comprehensive release of budgetary items appropriated in the GAA categorized as For Comprehensive Release |
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Special Allotment Release Order |
covers budgetary items For Later Release in the entity's submitted BED, subject to compliance of required documents/clearances |
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General Allotment Release Order |
is a comprehensive authority issued to all national government agencies, in general, to incur obligations not exceeding an authorized amount during a specified period for the purpose indicated therein. without need of special clearance |
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GAA Release Document Special Allotment Release Order General Allotment Release Order |
Documents used in releasing allotments to government agencies are? |
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11. Disbursement Authority |
This is the point whre government agencies obtain access to the government funds |
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Notice of Cash Allocations |
authority issued by the DBM to central, regional, and provincial offices and operating units to cover their cash requirements. This specifies the maximum amount of cash that can be withdrawn from a government servicing bank in a certain period. |
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Monthly Cash Program |
The NCA is based on the agency's submitted? |
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Notice of Transfer of Allocation |
authority issued by an agency's Central Office to its regional and operating units to cover the latter's cash requirements. |
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Non-Cash Availment Authority |
authority issued by the DBM to agencies to cover liquidation of their actual obligations incurred against available allotments for availment of proceeds from loans/grants through supplier's credit/consctructive cash |
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Cash Disbursement Ceiling |
authority issued by the DBM to agencies with foreign operations allowing them to use the income collected by their Forein Service Posts to cover their operating requiremnets |
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Treasurer of the Philippines |
Disbursements are most commonly made through checks that are chargeable against the account of the? |
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MDS checks |
Checks issued in CDC are called? |
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Disbursement |
actual amount paid out of the budgeted amount |
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8. Release Guidelines and BED 9. Allotment 10. Incurrence of Obligation 11. Disbursement Authority |
Processes involve in the Budget Execution |
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Budget Accountability |
This phase occurs concurrently with the Budget Execution phase |
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Budget Accountability Reports |
Government agencies are required to submit what during Budget Accountability? |
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Monthly Report of Disbursement |
shows the disbursements of the entity during the month |
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Quarterly Physical Report of Operation |
shows the agency's physical accomplishmentrs in a given quarter vis-avis its physical targets |
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Statement of Appropriations, Allotments, Obligations, Disbursements, and Balances |
shows the agency's authorized appropriations, allotments received, obligations incurred, disbursements made and the balances of unreleased appropriations, unbliagted allotments and unpaid obligations |
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List of Allotments and Sub-allotments |
shows the allotments received by the agency from the DBM and the sub-allotments issued by the agency's central office or regional office to lower operating units |
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Statement of Approved Budget, Utilizations, Disbursements, and Balances |
this report is prepared by agencies that have authority to use their revenue |
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Quarterly Report of Revenue and Other Receipts |
shows the actual revenues and other receipts remitted to the Btr and deposited in authorized government depository banks in a given quarter |
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Aging Due and Demandable Obligations |
shows the names of creditors, the amounts owed to them, and the number of days these obligations are outstanding. |
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30 days |
How many days the Aging Due and Demandle obligations are required to be submitted? |
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February 14 |
Consolidated Statements of Allotment, Obligations, and Balances per summary of appropriations shall be sbmitted on or before? |
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Statement of Comparison of Budget and Actual Amounts |
The budget reports, together with other budget records, provide information in preparing the? |
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Appropriations - Allotment |
Formula for unreleased appropriations |
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Allotment - Obligation incurred |
Formula for Unobligated allotment |
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Obligations incurred - disbursement |
Formula for Unpaid obligations |
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NCA - Disbursement |
Formula for Unused NCA |
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12. Budget Accountability Report 13. Performance Review 14. Audit |
Processes inviolved in Budget Accountability |
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Responsiblility Accounting |
is a system providing cost and revenue information over which a manager has direct control of. |
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Responsibility Center |
is a part, segment, unit, or function of a government agency, headed by a manager, who is accountable for a specified set of activities. |
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Controllable Cost |
a cost is considered what at a given level of managerial responsibility if the manager has the power to incur it within a given period of time |
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Non-Controllable cost |
are costs incurred indirectly and allocated to a responsibility level |